Eagle Bulk Shipping +4% as Deutsche Bank starts at Buy

|About: Eagle Bulk Shipping Inc. (EGLE)|By:, SA News Editor

Eagle Bulk Shipping (EGLE +4.3%) enjoys strong gains after Deutsche Bank initiated coverage with a Buy rating and $7 price target, saying the company should benefit from positive trends in the dry bulk shipping sector.

The firm's positive outlook is built on expectations that cash flows will more than double in 2018 and earnings will grow more than 20%, reflecting recent vessel acquisitions and continued improvements in dry bulk rates.

Detusche Bank says dry bulk fundamentals have improved dramatically over the last year, with strong financial positions across the industry, thanks to continued improvement in rates and asset values.

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